PACE Act of 2017
Bill journey · stage 1 of 5
Just introduced
What it doesSummary introduced in senate (Apr 5, 2017)
Protecting Americans from Credit Entanglements Act of 2017 or the PACE Act of 2017
This bill amends the Truth in Lending Act to extend that Act's requirements to real property retrofit loans. A "real property retrofit loan" is a loan that is: (1) secured by an interest in real property; (2) repayable in installment payments made concurrently with the payment of property taxes on the real property; and (3) used to finance real property retrofits, including energy-efficiency upgrades, renewable-energy installations, seismic retrofits, water-conservation upgrades, and other similar improvements.
Before extending a real property retrofit loan, the creditor must disclose that the loan will result in a lien on the real property securing the loan.
What just happenedMay 11, 2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-56.
Who’s behind it
- Introduced in SenateApr 5, 2017
- May 11, 2017Committee
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-56.
Banking, Housing, and Urban Affairs Committee - Apr 5, 2017IntroReferral
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Banking, Housing, and Urban Affairs Committee - Apr 5, 2017IntroReferral10000
Introduced in Senate